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Tax transparency: Mundys publishes new edition of its Tax Transparency Report, containing additional country-by-country and business segment disclosures

10 August 2023

Rome, 10 August 2023 – Mundys’ commitment to tax transparency continues with the publication of the new edition of the Company’s Tax Transparency Report (covering the 2022 tax year). In addition to the principles and guidelines applied in managing tax, the document reports on the Group’s contribution to the jurisdictions in which we operate, based on Total Tax Contribution methodology. Under this approach, the Report provides information on both taxes paid (Taxes Borne) and those withheld by companies and remitted to tax authorities (Taxes Collected). The 2022 edition also goes further in terms of ESG aspects, broadening the range of information provided, with additional details on the main countries in which the Group operates, an analysis of changes with respect to the previous fiscal year and a breakdown by business segment. The Total Tax Contribution for 2022 is up approximately 40% (38.7%) compared with the previous year, rising to €2,200.7 million (versus €1,587 million in 2021). Of this amount, Taxes Borne total €1,180 million and Taxes Collected €1,020.7 million. In percentage terms, the Total Tax Contribution accounts for 16.7% of revenue, whilst Taxes Borne represent 33.7% of profit before tax. Mundys reports that France is the main country in terms of tax contribution, accounting for 39% of Taxes Borne and Collected (reflecting the airport and motorway assets controlled by the Parent Company in the country), followed by Italy (17%), Spain (13%), Brazil (11%) and finally Chile (8%). Mundys’ leadership and commitment with regard to tax transparency have been certified by the Fair Tax Foundation, an external entity that rates the tax conduct of major companies. With regard to trends in the different business segments, the highest rates of growth were recorded by the Mobility Services segment, due largely to the consolidation of the Yunex Group, and the airports segment, linked to the recovery in traffic following the pandemic.